National Grid (NYSE:NGG) Upgraded by Sanford C. Bernstein to Outperform Rating

Sanford C. Bernstein upgraded shares of National Grid (NYSE:NGG) from a market perform rating to an outperform rating in a research report sent to investors on Monday, MarketBeat.com reports.

NGG has been the topic of several other research reports. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

National Grid Stock Up 1.5 %

Shares of NYSE:NGG opened at $64.18 on Monday. The stock has a market capitalization of $62.80 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The stock’s 50-day moving average price is $60.81 and its 200-day moving average price is $63.22. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid has a 12-month low of $54.24 and a 12-month high of $72.21.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in National Grid by 11.9% during the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock valued at $265,185,000 after purchasing an additional 473,172 shares during the period. JPMorgan Chase & Co. boosted its position in National Grid by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider’s stock valued at $83,496,000 after acquiring an additional 68,587 shares in the last quarter. Raymond James Financial Inc. bought a new stake in National Grid during the 4th quarter valued at approximately $67,324,000. Merewether Investment Management LP boosted its position in shares of National Grid by 10.3% in the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider’s stock worth $62,597,000 after purchasing an additional 98,461 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of National Grid by 3.3% in the 4th quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider’s stock worth $46,441,000 after purchasing an additional 25,082 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

About National Grid

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.